Current Report Filing (8-k)
April 11 2022 - 8:02AM
Edgar (US Regulatory)
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2022-04-11
2022-04-11
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported):
April
11, 2022
LIPOCINE
INC.
(Exact
name of registrant as specified in its charter)
Commission
File No. 001-36357
Delaware |
|
99-0370688 |
(State
or other jurisdiction
of incorporation) |
|
(IRS
Employer
Identification Number) |
675
Arapeen Drive, Suite 202
Salt
Lake City, Utah 84108
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (801) 994-7383
Former
name or former address, if changed since last report: Not Applicable
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title of each
class |
|
Trading Symbol(s) |
|
Name of each
exchange on which registered |
Common Stock,
par value $0.0001 per share |
|
LPCN |
|
The NASDAQ Stock
Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §
230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
5.02 |
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Appointment
of Dr. Jill M. Jene and Dr. Spyros Papapetropoulos as Directors
On
April 11, 2022, the Board of Directors of the Company expanded the Board of Directors to six members and appointed Dr. Jill M. Jene and
Dr. Spyros Papapetropoulos as directors, effective immediately. Dr. Jene and Dr. Papapetropoulos will serve until the election of directors
at the next annual meeting of the Company’s stockholders or until their earlier death, disqualification, resignation or removal.
The Board of Directors has determined that each of Dr. Jene and Dr. Papapetropoulos is an independent director under the listing standards
of the Nasdaq Stock Market.
Dr.
Jene will serve as a member of the Company’s Audit Committee and Dr. Papapetropoulos will serve as a member of the Company’s
Compensation Committee.
In
connection with their appointment as members of the Board of Directors, each of these new directors will receive an initial stock option
grant to purchase 10,000 shares of common stock of the Company. In addition, each of these non-employee directors will receive an annual
retainer of $35,000 per year; members of the Audit Committee and members of the Compensation Committee will also receive an additional
$5,000 per year for such service.
There
are no family relationships between Dr. Jene or Dr. Papapetropoulos and any director or executive officer of the Company and neither
Dr. Jene nor Dr. Papapetropoulos has a direct or indirect material interest in any transaction required to be disclosed pursuant to Item
404(a) of Regulation S-K.
Item
7.01 |
Regulation
FD Disclosure. |
On
April 11, 2022, the Company issued a press release regarding the appointments of Dr. Jene and Dr. Papapetropoulos to the Board of Directors.
A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
In
accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report and Exhibit 99.1 hereto
are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that Section, nor shall such information or that Exhibit be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended.
Item
9.01 |
Financial
Statements and Exhibits. |
(d)
Exhibits
The
following exhibits are filed with this report:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
|
|
LIPOCINE
INC. |
|
|
|
|
|
Date: |
April
11, 2022 |
|
By: |
/s/
Mahesh V. Patel |
|
|
|
|
Mahesh
V. Patel |
|
|
|
|
President
and Chief Executive Officer |
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